Millions of Americans facing new federal tax

September 28, 2012

About 6 million Americans may not be asking whether they are better off now than they were four years ago. They're more worried about four years from now - when they have to pay taxes because they have not obtained health insurance approved under "Obamacare."

The Congressional Budget Office revealed last week that its first estimate of the number of people who would have to pay the tax was off - by about 2 million people. Now, the CBO says that by 2016, about 6 million people will pay penalty taxes averaging about $1,200 per year.

Put that in perspective: That's more than the population of Minnesota or twice the population of Iowa, forced to pay tax increases because of Obama's mandate.